# Bitcoin’s Next Move Depends on One Thing Nobody Tracks

Page: https://stenobird.com/podcast/less-noise-more-signal-7015424/bitcoin-s-next-move-depends-on-one-thing-nobody-tracks
Text version: https://stenobird.com/podcast/less-noise-more-signal-7015424/bitcoin-s-next-move-depends-on-one-thing-nobody-tracks.md
Podcast: [Less Noise, More Signal](https://stenobird.com/podcast/less-noise-more-signal-7015424)
Published: 2026-05-11T16:40:53+00:00
Episode link: https://feeds.fountain.fm/Tkp8ve9N2p86ZGOVfvrw/items/mtrldOuQd6Zbq2gCnCJG/files/VIDEO---DEFAULT---0fbf0016-eed0-4c21-a40a-ed7b0d12da1d.mp4/ORIGINAL.mp3
Audio file: https://feeds.fountain.fm/Tkp8ve9N2p86ZGOVfvrw/items/mtrldOuQd6Zbq2gCnCJG/files/VIDEO---DEFAULT---0fbf0016-eed0-4c21-a40a-ed7b0d12da1d.mp4/ORIGINAL.mp3
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JSON: https://stenobird.com/v1/public/podcasts/less-noise-more-signal-7015424/episodes/bitcoin-s-next-move-depends-on-one-thing-nobody-tracks
Duration seconds: 2997

## Resource

▬▬▬ DISCUSSION ▬▬▬▬▬▬▬▬▬▬ 💬Join the discussion on Telegram: https://t.me/+OgDv1Djbvs80M2Fk ▬▬▬ EPISODE ▬▬▬▬▬▬▬▬▬▬ In this in-depth interview, Markus Thielen from 10X Research shares his macro and on-chain analysis of Bitcoin, market cycles, and macro risks. Discover how his regime models predict market turns, the impact of macroeconomic factors, and insights into the current crypto landscape. Follow Markus Thielen 👉 https://x.com/10xResearch ▬▬▬ SUPPORT ▬▬▬▬▬▬▬▬▬▬ ⚡️LNMS on Lightning: lnms@ln.mtpelerin.com ₿ BTC-Address: bc1qmk7gfdnrdegnmnrtnacj6rslan0y6v29kdlf9p 💵 https://buy.stripe.com/9B600k5Tscv33Ue4zRdby00 Twint: https://go.twint.ch/1/e/tw?tw=acq.Z7L1opJwS72nbGgEMY4w3ILkf67JAEyEFmXrtoKoUbONWSsjLDDQIhNx5ReanPy7 . ▬▬▬ LINKS ▬▬▬▬▬▬▬▬▬▬ 📰 LNMS Newsletter: https://lessnoisemoresignal.substack.com/ 🎧 LNMS on Apple: https://tinyurl.com/4apksnyn 🎧 LNMS on Spotify: https://tinyurl.com/ttha8kku 🎧 LNMS on Rumble: https://tinyurl.com/4k96c7tw 🎧 LNMS on Fountain: https://tinyurl.com/5dsbbj5p 🌐 LNMS Website: https://www.lessnoise-moresignal.com/ 📖 Bitcoin Book: https://www.amazon.de/dp/1967693013 🎧 LNMS on YouTube: https://tinyurl.com/4jfhr4zn ▬▬▬ SOCIALS ▬▬▬▬▬▬▬▬▬▬ Follow on X👉 https://x.com/pahueg Follow on Nostr 👉 https://primal.net/pascal Follow on LinkedIn 👉 https://www.linkedin.com/in/pascal-huegli/ ▬▬▬ CHAPTERS ▬▬▬▬▬▬▬▬▬▬ 00:00 Intro 01:57 Introduction to Markus Thielen and 10X Research 04:53 Current Market Assessment: Counter Rally or New Bull? 06:12 Historical Cycle Calls and Market Bottoms 08:06 Bitcoin's Supply and Demand Dynamics 09:32 Cycle Timing and the Role of Halvings 10:57 Market Indicators and Outflows 12:20 Market Resistance and Price Targets 13:17 Technical Models and Market Sentiment 16:03 On-Chain Flows and Market Bottoming 17:31 Investor Positioning and…

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## Transcript

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